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A Framework for Applying Analytics in Healthcare: What Can Be Learned from the Best Practices in Retail, Banking, Politics, and Sports by Dwight McNeill

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5. Banking

The big analytics lesson from banking is its understanding of the capabilities and motivations of its customers to carry through on their obligations.

Introduction

No other industry has dug itself into such a deep hole as banking has. Banks are widely viewed as primarily responsible for precipitating the Great Recession due to shaky lending practices related to subprime mortgages. Retail banking customers are dismayed by hidden costs, new fees, the “small print,” and the difficulty in getting a loan. The public’s confidence in the industry has been shattered...worldwide demonstrations have accused the industry of greed and corruption. Politicians from around the globe have responded with extensive regulatory requirements.

The business ...

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